Modera Wealth Management LLC Sells 4,819 Shares of SEI Investments Company (NASDAQ:SEIC)

Key Points

• Modera Wealth Management LLC reduced its stake in SEI Investments Company by 5.8%, selling 4,819 shares and now owning approximately 0.06% of the company valued at $6,095,000.
• SEI Investments reported $1.78 EPS for the last quarter, exceeding expectations and indicating a 7.8% revenue growth year-over-year, with a market capitalization of $10.95 billion.
• The company also announced a dividend increase to $0.49 per share, representing a yield of 2.21%, with a payout ratio currently at 18.39%.

Modera Wealth Management LLC lowered its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 5.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 78,516 shares of the asset manager's stock after selling 4,819 shares during the quarter. Modera Wealth Management LLC owned about 0.06% of SEI Investments worth $6,095,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after purchasing an additional 225 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in SEI Investments by 33.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 943 shares of the asset manager's stock worth $77,000 after acquiring an additional 238 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after acquiring an additional 681 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in SEI Investments by 1,563.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after acquiring an additional 1,282 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler dropped their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating and set a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.00.

Insider Transactions at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total value of $4,213,500.00. Following the sale, the executive vice president owned 13,500 shares of the company's stock, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,126 shares of company stock worth $20,082,409. 14.30% of the stock is owned by insiders.

SEI Investments Stock Up 1.8%

SEIC stock traded up $1.54 during midday trading on Monday, reaching $87.99. 265,292 shares of the company's stock traded hands, compared to its average volume of 869,238. The company has a 50-day simple moving average of $88.02 and a two-hundred day simple moving average of $82.09. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.37 and a beta of 0.95. SEI Investments Company has a 1-year low of $62.38 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.60. The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. Equities research analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is 18.39%.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.